| 单词 | endowment assurance |
| 释义 | endowment assurance An assurance policy that pays a specified amount of money on an agreed date or on the death of the life assured, whichever is the earlier. As these policies guarantee to make a payment (either to the policyholder or his or her dependants) they offer both life cover and a reasonable investment. A with-profits policy will also provide bonuses in addition to the sum assured. These policies are often used in the repayment of a personal mortgage or as a form of saving, although they lost their tax relief on premiums in the Finance Act 1984. |
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